Question 1

When customers enter a supermarket and select their favorite brand of laundry detergent, they are exercising their right to freedom of choice.

Accepted Answer

A) True 
 B)False

Question 2

"Newman's Own" is a food product line that gives 100 percent of its after-tax profits to charity. This company is ____.

Accepted Answer

A)  evaluating its business ethics 
B)  enacting upon its social responsibility 
C)  creating customer satisfaction 
D)  using creativity to promote sales 
A)  evaluating its business ethics 
B)  enacting upon its social responsibility 
C)  creating customer satisfaction 
D)  using creativity to promote sales

Question 3

What are the advantages of a diverse workforce?

Accepted Answer

Studies show that diverse employee teams

Question 4

Feedback from customers is an example of an internal force that would require change.

Accepted Answer

A) True 
 B)False

Question 5

Relationship management refers to ongoing, mutually beneficial ties between an organization and its customers.

Accepted Answer

A) True 
 B)False

Question 6

Critical thinking skills and creativity are essential qualities for today's managers.

Accepted Answer

A) True 
 B)False

Question 7

The business philosophy that advocates determining what consumers want and need, and then designing products to satisfy those needs, is known as _____.

Accepted Answer

A)  consumer orientation 
B)  self-sufficiency 
C)  work ethics 
D)  production enhancement 
A)  consumer orientation 
B)  self-sufficiency 
C)  work ethics 
D)  production enhancement

Question 8

Feedback from customers is an example of a(n) _____ that requires organizational change.

Accepted Answer

A)  internal force 
B)  external force 
C)  change agent 
D)  marketing issue 
A)  internal force 
B)  external force 
C)  change agent 
D)  marketing issue

Question 9

Apple iPods sold on Amazon's Web site signify the formation of a _____ to increase profits.

Accepted Answer

A)  transaction alliance 
B)  brand partnership 
C)  strategic alliance 
D)  marketing agreement 
A)  transaction alliance 
B)  brand partnership 
C)  strategic alliance 
D)  marketing agreement

Question 10

MATCHING
Complete the following using these terms.
-A company that contracts with another business to perform functions previously handled by internal staff is participating in _____.

Accepted Answer

A) outsourcing 
B) Diversity 
C) entrepreneur 
D) Competitive differentiation 
E) strategic alliance
F)Capital
G)vision
H)factors of production
I)brand
J)Relationship management
K)Not-for-profit organizations
L)Business ethics 
A) outsourcing 
B) Diversity 
C) entrepreneur 
D) Competitive differentiation 
E) strategic alliance
F)Capital
G)vision
H)factors of production
I)brand
J)Relationship management
K)Not-for-profit organizations
L)Business ethics

Question 11

In order to remain viable, not-for-profit organizations need to focus on profits even more than the public service they provide.

Accepted Answer

A) True 
 B)False

Question 12

Describe technology as a capital source.

Accepted Answer

Technology is a broad term that refers t

Question 13

In colonial society, the economic focus was centered on _____.

Accepted Answer

A)  metropolitan areas 
B)  areas west of the Mississippi River 
C)  rural areas 
D)  cities 
A)  metropolitan areas 
B)  areas west of the Mississippi River 
C)  rural areas 
D)  cities

Question 14

Natural resources are linked to the factor payment of rent.

Accepted Answer

A) True 
 B)False

Question 15

List and describe the four basic rights in the private enterprise system.

Accepted Answer

The right to private property guarantees

Question 16

The private enterprise system encourages government intervention.

Accepted Answer

A) True 
 B)False

Question 17

What are some examples of external and internal forces that would require a manager to lead organizational change?

Accepted Answer

External forces might include feedback f

Question 18

A strategic alliance is a partnership formed to create a competitive advantage for the businesses involved.

Accepted Answer

A) True 
 B)False

Question 19

Ingle is a new recruit at an IT firm. He feels that his compensation is below industry standards, and his colleagues at other firms urge him to switch his employment with a company that pays a better salary. Instead of changing his job, he forms a trade union to ensure fair wages in the firm. Which of the following rights has Ingle exercised?

Accepted Answer

A)  Right to private property 
B)  Right to competition 
C)  Right to profits 
D)  Right to freedom of choice 
A)  Right to private property 
B)  Right to competition 
C)  Right to profits 
D)  Right to freedom of choice

Question 20

_____ refers to standards of conduct and moral values of a firm.

Accepted Answer

A)  Creativity 
B)  Business ethics 
C)  A social audit 
D)  A social responsibility 
A)  Creativity 
B)  Business ethics 
C)  A social audit 
D)  A social responsibility

When customers enter a supermarket and select their favorite brand of laundry detergent, they are exercising their right to freedom of choice.

"Newman's Own" is a food product line that gives 100 percent of its after-tax profits to charity. This company is ____.

What are the advantages of a diverse workforce?

Feedback from customers is an example of an internal force that would require change.

Relationship management refers to ongoing, mutually beneficial ties between an organization and its customers.

Critical thinking skills and creativity are essential qualities for today's managers.

The business philosophy that advocates determining what consumers want and need, and then designing products to satisfy those needs, is known as _____.

Feedback from customers is an example of a(n) _____ that requires organizational change.

Apple iPods sold on Amazon's Web site signify the formation of a _____ to increase profits.

MATCHING Complete the following using these terms. -A company that contracts with another business to perform functions previously handled by internal staff is participating in _____.

In order to remain viable, not-for-profit organizations need to focus on profits even more than the public service they provide.

Describe technology as a capital source.

In colonial society, the economic focus was centered on _____.

Natural resources are linked to the factor payment of rent.

List and describe the four basic rights in the private enterprise system.

The private enterprise system encourages government intervention.

What are some examples of external and internal forces that would require a manager to lead organizational change?

A strategic alliance is a partnership formed to create a competitive advantage for the businesses involved.

_____ refers to standards of conduct and moral values of a firm.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters

Exam 1: The Changing Face of Business

When customers enter a supermarket and select their favorite brand of laundry detergent, they are exercising their right to freedom of choice.

"Newman's Own" is a food product line that gives 100 percent of its after-tax profits to charity. This company is ____.

What are the advantages of a diverse workforce?

Feedback from customers is an example of an internal force that would require change.

Relationship management refers to ongoing, mutually beneficial ties between an organization and its customers.

Critical thinking skills and creativity are essential qualities for today's managers.

The business philosophy that advocates determining what consumers want and need, and then designing products to satisfy those needs, is known as _____.

Feedback from customers is an example of a(n) _____ that requires organizational change.

Apple iPods sold on Amazon's Web site signify the formation of a _____ to increase profits.

MATCHING Complete the following using these terms. -A company that contracts with another business to perform functions previously handled by internal staff is participating in _____.

In order to remain viable, not-for-profit organizations need to focus on profits even more than the public service they provide.

Describe technology as a capital source.

In colonial society, the economic focus was centered on _____.

Natural resources are linked to the factor payment of rent.

List and describe the four basic rights in the private enterprise system.

The private enterprise system encourages government intervention.

What are some examples of external and internal forces that would require a manager to lead organizational change?

A strategic alliance is a partnership formed to create a competitive advantage for the businesses involved.

_____ refers to standards of conduct and moral values of a firm.

Business Ethics and Social Responsibility

Economic Challenges Facing Contemporary Business

Competing in World Markets

Forms of Business Ownership and Organization

Starting Your Own Business: the Entrepreneurship Alternative

Management, Leadership, and the Internal Organization

Human Resource Management: From Recruitment to Labor Relations

Top Performance Through Empowerment, Teamwork, and Communication

Production and Operations Management

Customer-Driven Marketing

Product and Distribution Strategies

Promotion and Pricing Strategies

Using Technology to Manage Information

Understanding Accounting and Financial Statements

The Financial System

Financial Management

Filters